Background: There are many researches on the topic of employing (ex) drug users in abroad, but a little works in the Czech Republic. Its pioneers did not aim specifically to describe a group of clients of aftercare centers who are most closely to the working process. Aims: In cooperation with three Prague aftercare centers (Drop In, Magdaléna, SANANIM) and Work and social agency SANANIM to map and describe job experiences of their clients on the job market. Next aim is to create a typology of clients in the aftercare centers according to their current un/employment. Complex of recommendations how to prevent mistakes at the job market was suggested. Methods: Quantitative and qualitative research methods were used to data collection - a questionnaire to map experiences of clients at the job market and interviews for detailed description of client types. Data analysis was carried out by open cosiny and descriptive statistics. All the ethical questions were kept. Sample: Basic population was created by all current clients of aftercare centers in Prague. It was necessary to fulfil these criteria: to be current client of some of the centers, to have at least one contact with the job market during the aftercare programme and to give an agreement with attendance in the study. Total number of respondents...

This master thesis analyzes the differences in the labor laws and their impacts on the development of the labor markets in large selection of OECD countries, including the Czech Republic. The thesis covers both historical and current data including the late-2000s recession. The labor market performance is measured by hours worked per person, which combines the extensive margin (employment rate) and the intensive margin (hours worked by employed individuals). Labor laws are represented by the average and marginal tax wedges, employment protection legislation, labor market policies and trade union density. The thesis contains an empirical model of the relationship between the labor market performance and labor laws for 24 OECD countries for the period 2000-2008. The thesis shows that the lower hours worked are associated with more strict employment protection legislation and lower trade union density. The effect of taxation (in terms of tax wedges) varies substantially among different subgroups of the population, but it is generally quite weak (elasticity around -0.15) and it cannot explain the overall differences in the development of the labor market performance among countries.

Resume: The aim of my thesis is to define the area of investment banking and point out its specifics in terms of Czech life and institutions in carrying out securities transactions by way of analyzing relevant legislation, its doctrinal interpretation, supplemented by some practical conclusions drawn from relevant case law and opinions of regulatory bodies. The thesis is divided into three separate parts. The first part tries to grasp theoretical concepts used in the title of this work. The definition and nature of security is essential for its later usage in terms of operations which are performed with such securities by investment banks. Types of such operations are defined by various investment services which determine the extent of investment banks' scope of business. In addition to those investment services, the Czech regulatory environment also addresses the status of investment banks whose different models (in terms of their functioning) can lead to terminological questions of why some investment banks are not a bank in a legal sense. The above provides a basis for the second part of my thesis, which is concerned with an analysis of respective securities operations that are usually carried out by investment banks operating in the Czech Republic. These operations are linked together and are often...

This tesis focuses on the issue of xenophobia and the meaning of public opinion about xenophobia by the template of secondary data analysis. The primary source for presented analysis was the research of The Center of Independent Public Opinion Research of the year 2011, which focused among other things on topic of foreigners in Czech republic. The main purpose of this tesis is to discover and to verify tendencies and attitudes of major czech public to the topic of foreigners living in our country. The tesis is from formaly standpoint separated into two basic parts. The theoretical part focuses on the very concept of xenophobia. It is the definition of this term. The focus is either concentrated to the theories of creation of xenophobia in the literature and theory. Between empirical and methodological part is a short chapter of operationalization of xenophobia concept. Fundamental part of the theoretical part is the chapter about the term foreigner itself where is defined how is this term used in all the tesis. Some space is push ahead with the description of foreigners living on the territory of Czech republic. Third chapter focuses on methodology. Shortly are mentioned basic premises of relations between xenophobia and other variables. To the reader are introduced primary data sets. This part is...

Modes of the legal regulation of hedge funds This thesis focuses on hedge funds, their history, main strategies, role on the financial market and regulation. It compares approach to regulation of those entities in the US, European Union (and its certain member states) and in significant offshore jurisdictions. Its major focus is on the financial crisis from the year 2008 and its impacts on hedge funds. Its goal is to find whether the regulation of hedge funds can be beneficiary and what approach should the regulator take. It discusses the effects of the Dodd-Frank act, UCITS IV and AIFMD and compares those legislative documents. It consists of four chapters. In first chapter it tries to define the term hedge fund. Second chapter briefly explains history of hedge funds and historical approach to their regulation in the US. Third chapter discusses various strategies used by hedge funds and their outcomes. Legislative approach in various countries is being investigated in part four of this thesis. It compares regulation on hedge funds in the US, European Union, Great Britain, Ireland, Germany, Czech Republic and Singapore. It tries to predict what is going to happen with the hedge fund market after implementation of the EU Directive AIFM in the years 2013 to 2018 and it also tries to find the possible...

In recent years became unemployment one of the most important economical issues. Increasing rate of unemployment is one of the most serious problems of most states. The goal of all of them is to ensure the maximal balance between supply and demand on the labour market. The purpose of the master thesis is to describe the basic aspects of labour market and unemployment, but primarily to describe the special instruments of the Austrian labour market and find some recommendations, which could be helpful and could be implemented to the system in the Czech Republic. First three chapters deals with the theoretical basis of the topic and terminology. First chapter describe the functioning of the labour market and specific attributes of the supply and demand on the labour market. Chapter two, which deal with the unemployment, define the origin of unemployment, kinds of unemployment and consequences of unemployment to the society. The third chapter concern to the topic of minimal wages and compare the advantages and disadvantages of the statutory minimal wages. Chapter four summarise the development and instruments of the employment policy of the European Union, because this policy has influence on the system in the Czech Republic and also in Austria. The last and the most important chapter of the thesis...

The correlation between stock market returns and changes in bond market yields are of big interest among investors because this indicator helps them allocate their assets and diversify investment risk more effectively. An in- vestor should keep track of development of the economies of individual coun- tries, understand the causes of dissimilarities in the correlations among them and take these differences into account for successful international financial investment. The current author contributes to the existing researches by the modeling of stock-bond market co-movements using the updated datasets with focus on Central European countries and differences in public debt levels. The paper contains the empirical analysis of stock and bond market returns condi- tional correlations, modeled by the use of the Asymmetric Generalized Dynamic Conditional Correlation (AG-DCC) Generalized Autoregressive Conditional Het- eroskedasticity (GARCH) specification, for nine Western and Central European countries (the United Kingdom, Germany, France, Spain, Portugal, Italy, Czech Republic, Poland and Hungary) that differ both by their geographic locations and economic development. The main distinctions in the correlations are ob- served during the European sovereign debt crisis. The three types of develop- ment are...

This thesis investigates the relationship between daily spot and futures prices for maturities of one, two, three and four months of West Texas Intermediate (WTI) crude oil. The data cover period January 1987-April 2015. Based on economic theory, the futures prices should be closely related to the spot price, which - in the case of crude oil market - this thesis analyses using wavelet-based approach. Main contributions of this thesis are findings in the field of time-frequency relationship of spot-futures prices of crude oil, where an alternative methodology - wavelet transformation - is used. The usage of this advanced method is also an additional contribution of this thesis because it allows us to rigorously study how co-movement (relationship) differs across frequencies/scales and time. In this thesis wavelet Coherence, wavelet bivariate correlation and relatively new method wavelet band spectral regression (WBLS) are used. This thesis brings 4 main findings. First, relationship between Futures and spot prices of crude oil is strong in all time-periods (frequencies/scales), which supports economic theory. Second and In contrary to the first finding, in the gasoline spot-futures market, we find that the relationship is strong mainly in higher scales (lower frequencies) while in lower scales (higher...

This work analyzes the contagion effects between energy and CEE financial markets during the two crisis periods (global financial crisis 2008-2009 and energy market crisis 2014), using a sample of daily data from 2004 till 2015. We detect contagion by observing the degree and structure of two dummy variables for specified crisis periods included into the quantile regression models on the basis of a dependence measure called "coexceedances". Our results show that there are significant contagion effects present between the gasoil and CEE stock markets during the 2008-2009 period and mixed evidence of contagion between crude oil market and CEE stock markets. CEE stock markets do not appear to exhibit significant contagion effects with energy markets during the recent energy market crisis. These results substantially differ from those found in the developed European markets. In particular, our results indicate that energy markets and stock markets in developed Europe seem to display significant contagion effects during the 2014-2015 period. Keywords: Central and Eastern Europe, contagion, energy market, quantile regression

Abstract The goal of this diploma thesis is to explore the potential of Czech paintings as an alternative investment asset. Using hedonic model, I estimate the main sale price determinants such as painting technique, size, author, auction hall and the rate of return. Observed rate of return is than compared to global rate of return of art on one hand and to common investment tools such as gold and the Stock Exchange on the other. At the same time I examine the impact of GDP growth and inflation. I find a positive effect of GDP growth on the art market. After taking these questions into consideration I found, that even though art is associated with relatively low rate of return, it is eligible investment tool. Since it is unrelated to joint stock, it can serve as a convenient instrument of portfolio diversification. At the same time, Czech paintings may also serve as a very good store of value.